Coin processing devices such as coin redemption machines allow users to exchange bulk coins deposits for another form of physical currency such as bills, redeemable or negotiable instruments, or electronic currency (e.g., credit to an account or a stored value on a smart card). Typically, coin redemption machines are disposed in public locations such as in a retail store or bank.
Current coin-processing machines employ bags or bins. The control system is set up so that, at a predetermined number of coins (e.g., 55,000) of any denomination, the machine is taken off-line/shut down until the bags/bin can be removed by an appropriate service. This predetermined number of coins is based on an assumption of a certain mix of coins and the volume associated with that assumed mix of coins.
However, in many instances, the assumed mix of coins may not reflect the actual mix typically seen in certain facilities. For example, one facility may generally receive one mix of coins, reflecting a concentration of one denomination of coin (e.g., 50% quarters, 20% dimes, 20% nickels, 10% pennies) whereas a second facility may generally receive another mix of coins (e.g., 30% quarters, 30% dimes, 20% nickels, 20% pennies). In these instances, the number of coins and the volumes occupied thereby would differ. Coin-processing machines programmed to stop receiving transactions after a pre-set number of coins have been processed by the machine may not fully utilize the volume of the bin.
Since the cost to empty the bin (i.e., the charge by the service company) is fixed and is independent of the actual number of coins in the bin or weight of the coins in the bin, it would be beneficial to optimize the number of coins that may be received by the bin or bag.